Maritime Piracy continues to grow abroad and poses a significant and real threat to shipowners and their crews worldwide. Effectively managing Maritime Piracy crises is essential to protecting the life and well-being of the crew and an organization’s assets.
Best for
- Ship Owners
- Ship Managers
- Charterers of Vessels
- Yacht Owners
Highlights
- Capacity: Up to USD 15 million / EUR 15 million or currency equivalent
- 24-hour crisis hotline
- Immediate access to Unity Advisory Group’s consulting services across a variety of topics relating to security and executive protection
Summary of coverage
Maritime Piracy insurance provides coverage against the financial loss that can arise when a ship’s crew and/or vessel is seized or detained for ransom. Tokio Marine HCC’s Maritime Piracy policy protects a shipowner against numerous expenses that may not be covered under other insurance policies.
We provide worldwide coverage for perils including kidnapping of the crew and illegal seizure of the vessel. Benefits include not only ransom, but also costs of fuel, costs of ports, legal advice and liability protection, as well as personal accident, amongst others. Another key feature of our coverage is providing clients unlimited fees and expenses for crisis response and 24/7 access to a leading crisis management firm, Unity Advisory Group.
Unity Advisory Group
Unity's role in a piracy or hostage incident is to advise and support organizations in managing the situation to a successful resolution, including the vessel's recovery and cargo. Unity operates globally to help our clients avoid, prepare for and resolve maritime crises in a manner conducive to the well-being of their people, assets and reputations.
They undertake a holistic approach to the overall incident management strategy including but not limited to:
- Crisis management structure and interactions
- Negotiation strategy
- Communicating with the hostage-takers
- Safety and well-being of crew and family members
- Forecasting ahead – risk assessment
- Incident management
- Liaison with the authorities
- Family management
- Media and internal communications
- Interactions with third parties
- Release and rehabilitation
- Returning to a pre-incident state
Your team
Main office
Torre Diagonal Mar
Josep Pla 2, Planta 10
08019 Barcelona
Spain
About our team: Specialty Group
Our Tokio Marine HCC - Specialty Group underwriters are well equipped to address the full range of exposures facing commercial and financial enterprises and individuals based in the United States and abroad. We deliver individually tailored solutions that meet the ever-complex needs of each of our clients. Our underwriters continually seek ways to enhance our products and protect our clients from challenging and unconventional exposures wherever they are based. We listen, develop a profound understanding of our client's needs, and develop coverage packages to protect them against the unexpected. For Crisis Management Insurance outside the US, globally:
Contact us
Why choose Tokio Marine HCC?
Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance.
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